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telent acquires leading communications infrastructure provider, the Alan Campbell GroupLondon — 25 July 2008 — telent , a leading provider of technology services, today announced that it has acquired the Alan Campbell Group (ACG), a communications infrastructure provider in the UK telecommunications and broadcast sectors. The acquisition is in line with telent’s strategy to broaden its service offering to both existing and new customers, and to enter complementary adjacent markets. Warwick-based ACG employs around 240 people and has annual revenues in excess of £20 million. Established in 1980, ACG provides a range of end-to-end solutions across the UK - from network design, microwave and cellular installation and commissioning to logistical and technical support services, and major construction and broadcast site services. ACG’s main customer base includes (in alphabetical order); Airwave, Arqiva, Ericsson, National Grid Wireless, Nokia (now NSN), Orange, T-Mobile and Vodafone. ACG will continue to operate as a distinct business in its own right within telent, and the ACG customer-focused culture of excellent delivery and quality will be protected and developed. As a result of this transaction, ACG will now have access to a broader range of skills and capabilities, creating the potential to deliver a wider range of services, and reducing risks of dependencies on individual contracts. The addition of ACG reinforces telent’s offering in wireless infrastructure services, and opens up a new business in broadcast services for the company. ACG’s existing installation and design skills and field force of over 160 people, will also complement telent’s 1,000-strong engineering field force. Through the acquisition, telent’s market reach will now extend to include the broadcast services sector, which is set to grow strongly as the UK Government moves to complete the UK Digital Switchover Project by 2012 (DSO). Alan Campbell, founder of ACG and continuing as a Director of the business commented: “I’m delighted to see ACG become a part of telent, a company which, like us, has a truly customer partnership approach to business, and benefits from deep industry knowledge and a high level of technical expertise. I’m fully confident that the combination of ACG’s expertise and telent’s experience, scale and nation-wide field force, will open up exciting new opportunities for both businesses.” Mark Plato, CEO of telent added: "telent has established a solid reputation for designing, installing and maintaining critical networks and communications systems for telecommunications operators, as well as large public and private enterprises. With ACG, we will deepen and extend our infrastructure offering, particularly in wireless, and gain a presence in new and exciting markets, particularly the UK broadcast sector. We look forward to welcoming ACG into telent. Like telent, ACG has deep industry sector knowledge and a strong customer focus, benefiting from an excellent blue chip customer base. There is an excellent strategic and cultural fit between our two organisations, and by combining our strengths, I see tremendous potential for the future." telent ’s owners, Pension Corporation, view the acquisition as another step towards telent achieving its growth plan. “Pension Corporation is keen to see telent broaden its market reach. telent can use its capital strength to add technical skills and resources to the platform.” comments Edmund Truell, Pension Corporation’s Chief Executive Officer .
About telent: About ACG: About Pension Corpoation
These solutions enable pension funds to protect their members’ benefits by strengthening and stabilising their financial position, and enable their employers/sponsors to protect themselves against the volatility of their earnings and balance sheet values. Insurance Buy-out: An insurance policy is issued by Pension Insurance Corporation (“PIC”), which gives the members of the pension fund the security of having their benefits underwritten by a fully FSA-authorised and regulated insurance company and removing the responsibility for the pension fund payments from the balance sheet of the employer/sponsor. PIC can undertake the insurance in respect of all or some classes of the members, according to what the fund can afford, and is able to act quickly and in a flexible way (for example by offering different ways of financing the transaction). Longevity Insurance: PIC offers a longevity insurance policy, the first of its kind in the world, to protect pension funds and their employer/sponsor against the cost of pensioners living longer than expected. The policy is tailored to the member-by-member profile of the fund so as to provide comprehensive “whole of life” protection against what is perhaps the most significant risk faced by pension funds and their employers/sponsors. Inflation risk can be included or covered separately by an inflation swap. Pension Fund Sponsorship: Typically used where a fund cannot afford a pension insurance buy-out immediately, Pension Fund Sponsorship involves the Pension Corporation group becoming the owner of the employer/sponsor of the pension fund. In this way, the fund gains the additional backing of the Pension Corporation Group, while continuing to have the backing of the original sponsor and of the assets of the fund itself. Under this model financial returns to Pension Corporation can only be drawn once the pension fund members’ benefits have been secured, in much the same manner as funds within an insurance company. For each of the three pension schemes where Pension Corporation has acquired the employer/sponsor, it has advocated a reduction in the risk level of the pension fund assets, which shows the conservatism of Pension Corporation’s views on investment management and its emphasis on pensioner security. Asset Liability Management: Pension Corporation has a highly experienced investment management team, which is able to advise on state-of-the-art asset and liability management. It offers this service on a fee basis or, in the case of funds under the sponsorship of companies owned by it, without charge. Security
Copyright (c) 2008 telent Limited. All rights reserved. All brands or product names are trademarks of their respective holders. It is possible that this announcement could or may contain forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could or other words of similar meaning. Undue reliance should not be placed on any such statements because, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and telent's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. There are several factors which could cause actual results to differ materially from those expressed or implied in forward looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are delays in obtaining, or adverse conditions contained in regulatory approvals, competition and industry restructuring, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities. telent undertakes no obligation to revise or update any forward looking statement contained within this announcement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.
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